NEED HELP FIGURING OUT WHAT TO PAY OFF FIRST..? PLEASE HELP

[Lollipop33]

I know that you are supposed to pay off credit cards with the highest balance first but I owe back on taxes. I have approximately 10,000 in savings. I have a 5000.00 balance on one credit card and I owe about 5000.00 in taxes due to acruels and interest added. Do I need to pay off the taxes and just pay the minimum balance on my credit card until I pay off the taxes...Or do I just take my savings and pay everything off and start off from scratch building up my savings again...

[laz98]

If it were me, I would take the money out of my savings to pay my taxes, & that's it.  I'd continue paying my credit card the best I could, & keep the rest of my savings.

[clocktick]

I would definitely pay off the taxes immediately.  As for the cc, I would try to negotiate a lower interest rate and pay off in chunks as best, and as fast, as I could.

[Lollipop33]

Ok thanks..I think I am going to pay the taxes off...

[marty56]

Yes the IRS is the last people you want to owe money to.

[birjest]

I CONCUR with everyone here.  Don't become Wesely Snipes bunk mate....

[Lollipop33]

thanks...that's funny not only him a few others as well